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On the heels of news that it had been selected as the sole independent advisor for the planned initial public offering of Saudi Aramco, Moelis on Wednesday reported record 2016 revenues of $613.4m, up nearly 50 per cent since it went public on the New York Stock Exchange in early 2014.
In 2016 the boutique investment bank advised 305 clients – of which more than half paid fees equal or above $1m – up from 269 clients a year earlier.
“We achieved record revenues in 2016 as our investments in talent around the globe and exceptional collaboration across geographies and products led to an increasing number of client relationships,” Mr Moelis said on Wednesday.
“We are experiencing significant momentum not only in the US, but in emerging regions such as India, Asia, the Middle East and Brazil as the M&A cycle continues and restructuring activity grows.”
Moelis will be in the the thick of one of the hottest planned IPOs, for Saudi Aramco, as Saudi officials hope to turn the state-owned oil group into the world’s most valuable publicly trade company, which they believe would carry a valuation of about $2tn.
Winning the hotly contested mandate is a coup for the independent firm, which was founded by veteran dealmaker Ken Moelis in the midst of the financial crisis in 2007.